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    US Justice Dept. Continues Probe Into Fraud Case Involving JPMorgan Chase

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    Spokesman for the US Department of Justice said that the department continues to probe alleged misconduct in the foreign exchange markets in a case that has implicated JP Morgan Chase and other leading financial institutions.

    NEW YORK, December 16 (Sputnik) — The US Department of Justice continues to probe alleged misconduct in the foreign exchange markets in a case that has implicated JPMorgan Chase (JPM) and other leading financial institutions, a spokesman has told Sputnik.

    "We have an active, ongoing investigation, and we'll decline to comment further," Peter Carr, a spokesman for the department, told Sputnik via e-mail Monday.

    JPMorgan Chase is a multinational banking and financial services holding company. Its assets are estimated at a total of $2.5 trillion.

    In the past 14 years, the company has been accused of mortgage overcharging, alleged manipulations of the energy market, sanctions violations and obstruction of justice by its employees on multiple occasions.

    In November, JPM announced that it was under investigation in its regulatory filing.

    According to Financial News, the bank might need as much as $5.9 billion in legal proceedings costs.

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